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Blast From The Past - 6 Years Ago Today...

Tyler Durden's picture





 

Six years ago today, with the S&P 500 around 1460 - having risen 20% without a correction for seven months - a handful of Wall Street's best and brightest joined CNBC's Larry Kudlow and Bob Pisani to discuss the Goldilocks economy, why the bears are wrong, and where the market is going next. Sometimes, we just need a reminder to snap us out of that recency bias... for example, Bob Pisani: "We have got a global rally going on... and the important thing is... there's a floor to the market - every time, for the last seven months, they sell the market down for 2 days, it comes right back."

 

 

Ralph Acampora: "I'm bullish, but I don't think I am bullish enough...there's new leadership"

Larry Kudlow: "Goldilocks kicks some more butt and the bears of the last four years are wrong... as they climb the 'wall of worry'"

Bob Pisani: "Transports have been rallying - as the disaster that the bears keep talking about hasn't happened... When you are in a global expansion like this, to sell...is foolish."

and our favorite:

Bob Pisani: "People who keep talking about this real estate bubble don't understand... there are 3 things that bring down real estate markets: 1) the economy falls apart, 2) liquidity is withdrawn, and 3) supply overwhelming market - NONE of that has happened."

 

 


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Sat, 02/09/2013 - 15:52 | Link to Comment escargot
escargot's picture

Bah ha ha!  And yet, people still watch CNBC and think they're getting good information.  Being a TV pundit must be great.  It's like being a psychiatrist....you can be wrong 100% of the time and still keep your job.  I'm sure the sheep out there have no memory whatsoever of Bob Pisani (or Ben Bernanke) laughing off the idea of a "bubble".

Sat, 02/09/2013 - 18:27 | Link to Comment vft2212
vft2212's picture

Feb 2007 the banks peaked & were the 1st group to warn based upon their performance. I was stopped out of $BAC & the $4 dividend at $51 (aw shucks)

Sun, 02/10/2013 - 04:55 | Link to Comment Hobie
Hobie's picture

Damn! Silver @ $13.95.

 

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